Spot silver rose 5.88% to $75.05 per ounce; spot gold rose 2.55% to $4,898.91 per ounce.
At Thursday’s close, the metal had lost its entire gains for the year to date in a market that hasn’t seen this level of turmoil since 1980.
A multiyear bull run for precious metals accelerated in the last few weeks, in a surge underpinned by speculative momentum, heightened geopolitical risks and concerns about the US central bank’s independence. That rally came to an abrupt halt at the end of last week, with silver seeing its biggest-ever daily drop on Jan. 30 and gold plunging the most since 2013.
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